寒武纪获3.68亿融资！为何你的股票不涨？

Core Insights - The latest data indicates a slight decline in the margin financing balance of the Sci-Tech Innovation Board, yet stocks like Cambrian are experiencing increased interest from investors [1][3] - A total of 41 stocks on the Sci-Tech Innovation Board saw net purchases exceeding 10 million yuan, with Cambrian leading at 368 million yuan, while 75 stocks experienced a decrease in financing balance of over 10 million yuan [3] - The market is characterized by significant stock performance divergence, highlighting that not all stocks will rise in a bull market [4] Market Behavior - The professor's remark on behavioral finance emphasizes that the greatest risk in the market is not volatility but cognitive biases among investors [4] - The performance of various sectors before April 2025 shows that few sectors can maintain consistent performance, with the electronics sector being the only exception, yet it still faced declines in four months [4] - The stock market operates on a principle of survival of the fittest, where large funds hold significant pricing power [7] Quantitative Analysis - Quantitative tools reveal discrepancies in stock performance, indicating that institutional holdings do not equate to constant trading activity [10][12] - The analysis of institutional fund activity shows that stocks with sustained institutional support tend to perform better, as seen in the financing data for Cambrian and other electronic sector stocks [12] Investment Insights - The data suggests that market performance should not mislead investors, as stock differentiation is a common occurrence [13] - A rebound in stock prices does not necessarily indicate an investment opportunity; the focus should be on the sustainability of fund support [13] - The technology sectors, particularly electronics and semiconductors, remain focal points for investor interest [13]